SYDNEY – at a briefing here today, Stuart Gulliver, Group Chief Executive of HSBC, suggested that the future of global relationships with China was being written in part by the foreign business community.
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MANILA - International Container Terminal Services, Inc. (ICTSI) today reported its unaudited consolidated financial results for the first nine months of 2016, posting revenue from port operations of US$835.0 million, up 5% on the same period of last year; pre-tax earnings (EBITDA) of US$390.3 million, up 15%; and net income attributable to equity holders of US$141.9 million, up 4%.
GUANGZHOU – China’s 120th Canton Fair has closed with the total exports deals of 187.301 billion yuan ( USD27.89 billion ), a 3.2% year-on-year increase. Nearly 186,000 buyers from 213 countries and regions participated at the fair, 4.6% more than in 2015.
SINGAPORE – As financial markets reacted negatively to a Trump election victory, ANZ Bank said a sharp recovery is unlikely, with uncertainty over policies under a Trump administration set to linger.
HONG KONG - Even if part of Trump’s aggressiveness gets ironed out once he becomes President, there are two main traits that are bound to remain in the economic policies he will be conducting. The first is protectionism and the second more interference in FED affairs, in particular monetary policy.
HONG KONG - PMIs across the world's major economies improved in October, but exports do not seem be benefitting, according to a survey by HSBC. It says manufacturing picked up nicely in the US, the EU, Japan and China, but elsewhere, the situation continued to look soggy, including in ASEAN, with trade still stuck.
NEW DELHI - Improvements in policymaking continue to strengthen prospects for India's economic and fiscal performance, but wide fiscal deficits, a heavy debt burden, and low per capita income detract from the sovereign's credit profile, says Standard and Poor’s.
KUALA LUMPUR - Kidnapping and hostage-taking persists off the coasts of West Africa and Southeast Asia, despite a 20-year low in piracy on the world’s seas, according to new figures from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB).
BEIJING – Data released today by China may signal the end of persistent sluggishness in its industrial sector, according to a research note from ANZ Bank. It says strong manufacturing PMI numbers strengthen its belief in a change in China's growth momentum.
BEIJING – China’s State Administration of Foreign Expert Affairs has announced that a new work permit system for foreign employees will be implemented on a nation-wide level from April 1, 2017. Lawyers Baker & McKenzie say the new system will divide foreign nationals into three categories according to academic background, professional qualifications and the nature of the assignment/employment in China.
KUALA LUMPUR - The Malaysian Government underlined its commitment to fiscal consolidation when it unveiled its 2017 Budget last week, according to an assessment by ANZ Bank. It says cutbacks to spending for this year were outlined to keep the fiscal deficit at 3.1% of GDP in 2016, with a slight improvement to 3.0% in 2017 forecast.
SEOUL – South Korea and the U.S. have agreed to establish an Extended Deterrence Strategy and Consultation Group (EDSCG) to better ensure the protection of Korea and U.S.allies from North Korean nuclear weapon and missile threats. The EDSCG will establish a dialogue between South Korea and the U.S. concerning "extended deterrence," which refers to a commitment to use nuclear weapons to deter attacks from North Korea, the official South Korean newsagency reports.
BEIJING – China’s Premier, Li Keqiang, has called for China and the United States to make efforts to reach an early conclusion of their bilateral investment treaty (BIT) negotiations. The two countries have agreed to BIT talks on the basis of pre-establishment national treatment (PENT) plus a “negative list” approach.
SEOUL - North Korean refugees entering South Korea are a “trial-run, a test for eventual unification", President Park Geun-hye has told a Cabinet meeting. "When a North Korean refugee successfully finds their place in our society, it means they have found happiness for themselves and their family. This example can, in turn, offer hope to North Koreans oppressed by tyranny," she said.
SYDNEY – Australia’s export credit insurer, Efic, and the Export Council of Australia (ECA) have joined forces to launch a first-of-its-kind export focused app. The Export Essentials app has been designed with new and growing exporters in mind, with a focus on SMEs.
BEIJING - The World Trade Organisation has sided with China in a key dispute with the U.S. over how Washington calculates anti-dumping duties it imposes on certain Chinese products. China's victory, announced Wednesday, settled a complaint that Beijing filed against the U.S. in 2013 over tariffs on imported Chinese goods, including high-pressure gas cylinders made of steel, and pipes manufactured for the oil industry.